- RaveDAO token plunged 95% from $26 to below $1.
- RAVE launched in December 2025 on Binance Alpha.
- ZachXBT’s on-chain evaluation additionally highlights MemeCore, River and MYX amongst questionable tasks.
RaveDAO (RAVE) has plunged under $1, erasing greater than 95% of its earlier rally to an all-time excessive of $26.
The sharp decline follows an investigation by blockchain analyst ZachXBT, which alleged clear indicators of worth manipulation.
The findings have raised broader issues about potential insider-driven schemes affecting a number of tokens listed on centralised exchanges, contributing to promoting stress throughout the phase.
RaveDAO token dumps amid ZachXBT’s explosive allegations
ZachXBT, a pseudonymous investigator celebrated for dismantling multimillion-dollar crypto frauds, took to X on April 18, 2026, to dissect RAVE’s suspicious trajectory.
He pinpointed concentrated pockets exercise controlling the token’s liquidity, engineering synthetic pumps to entice retail consumers earlier than orchestrated dumps.
“RAVE launched in Dec 2025 on Binance Alpha with a 1B total supply. The addresses below, linked to the initial distribution, control ~95% of the RAVE supply,” the on-chain sleuth posted.
Labelling it a textbook “pump-and-dump,” ZachXBT supplied a $25,000 bounty for transaction proofs, urging platforms like Binance, Bitget, and Gate.io to launch probes.
He notes that the exchanges acknowledged his name, a transfer that would mirror previous successes in securing refunds and bans.
But ZachXBT questioned why CEXs have waited for his name to acknowledge potential manipulation.
“While it’s good the exchanges responded, I find it unlikely this activity wasn’t spotted internally before I raised it publicly.”
RAVE’s worth carnage unfolded mercilessly, plummeting from $26 to below $1 inside 24 hours, with buying and selling quantity surging amid mass liquidations.
Billions of {dollars} in market cap vaporised, leaving holders surprised. The declines noticed the token’s worth drop to lows of $0.50, the place it hovered as of writing on April 20, 2026.
Replace: Three hours in the past multisig 0x53d7 linked to the RAVE preliminary distribution which I flagged above despatched ~23M RAVE ($23M) to 2 Bitget deposit addresses and the worth dropped 40% from $1 to $0.6.
Deposit addresses
0x26aC542f5a04D574580881723224DAcD1EDB9B45… pic.twitter.com/Qi1asiFWsB— ZachXBT (@zachxbt) April 19, 2026
ZachXBT additionally hits different tokens
The potential worth manipulation extends to related tokens.
“RAVE is not the only token with manipulation we have seen on major centralized exchanges,” he posted.
“It’s just the most blatant, reaching a top 15 market cap within 10 days before dropping 95% in hours. Other projects with highly questionable price action recently include: SIREN, MYX, COAI, M, PIPPIN, RIVER.”
In line with ZachXBT, all tasks have exhibited “highly questionable price action” and provide dominance by the crew.
MemeCore, RIVER and PIPPIN costs echoed the Rave token bleed, dumping double digits to erase current positive aspects.
Some retail merchants commented on ZachXBT’s put up, noting this could possibly be a chance to brief. His response:
I don’t advocate shorting manipulated tokens with a excessive insider focus.
— ZachXBT (@zachxbt) April 20, 2026
Knowledge on CoinMarketCap confirmed M, River and Siren have been down 7-9% up to now 24 hours as of writing.
